Dawood Ibrahim's properties in Mumbai to be auctioned today

Dawood Ibrahim's properties in Mumbai to be auctioned today

For the second time in two years, three properties belonging to underworld don Dawood Ibrahim were up for auction today by the Ministry of Finance and all three properties were bought by the "Saifee Burhani Upliftment Trust". The auctioned properties of underworld don include Shabnam Guest House, six flats in Damarwala building and a restaurant Rounaq Afroz. Two properties were auctioned for INR 3.5 Crore and Raunaq Afroz for INR 4.52 Crore. All these three buildings are in a dilapidated condition. "Thereafter, to ensure the safety of the families living in these buildings and to carry on the redevelopment project, we participated in the bidding and acquired these properties", a SBUT spokesperson said. The total reserve price of these three properties was Rs 3.95 crore and SBUT has acquired them for almost thrice the (reserve) amount at Rs 11.06 crore.

The bidders for the auction also included the Hindu Mahasabha. The physical inspection of the properties to be auctioned took place last week. The Appellate Tribunal for Forfeited Property, however, had dismissed the appeals under SAFEMA.

Sources said that the properties are liksely to be auctioned through three methods - the sealed tender, public auction and e-auction. After that, his properties were seized under SAFEMA (Smuggling and Foreign Exchange Manipulation ACT).

These properties could not be auctioned in 2015.

Damarwala building was home to Dawood Ibrahim and his family members in late eighties.

A private firm was appointed in December 2015 to auction seven properties including four agricultural plots in Daman, Hotel Raunak Afroz, tenancy rights on a flat in Mahavir Building in Matunga.